The medical device industry is one of the targeted industries in the S-Curve promoted by the government in terms of investment privileges, tax measures, development of product standards, quality and standards of testing laboratories, government procurement policies, preparation of relevant personnel, and measures to support research and development in the country, which will improve the stability of the country's public health system.
Thailand is a developing country and most people do not have access to high-priced medical devices. Encouraging and enabling local manufacturers to design medical devices, with a focus on communities and remote areas, may rapidly advance the medical device industry.
For investment promotion, the Office of the Board of Investment (BOI) stipulates privileges for investment in medical device manufacturing, including the production of tools, equipment, and parts of medical devices, and the production of diagnostic kits and medical materials by granting privileges of tax exemption or reduction on imported parts, and reduction of machinery import tax and corporate tax, etc., as well as annually opening up the public sector innovation market with demand for procurement of durable goods and materials from public agencies.
Source: THAILAND BOARD OF INVESTMENT
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